Home Business Amnesty Scheme For Small Taxpayers, Black Fungus Drug Exempted From GST

Amnesty Scheme For Small Taxpayers, Black Fungus Drug Exempted From GST


Black Fungus Medicine Exempted From Tax: Key Takeaways From GST Council Meet

GST Council Meeting 2021: IGST is exempted on free COVID-related essentials till August 31

The goods and services tax (GST) Council meeting was held today after a gap of almost eight months, amid the ranging second wave of the COVID-19 pandemic in the country. While addressing a press conference after the Council meeting concluded, Ms Sitharaman announced that the integrated goods and services tax (IGST) is exempted on free COVID-related essential items till August 31, 2021. (Also Read: Decision On Tax Cuts On Covid Vaccines By June 8, Says Government )

Due to the surge in the number of Black Fungus cases across the country, the duty on import of the medicine- Amphotericin B, used to cure Black Fungus, is exempted. 

Finance Minister Nirmala Sitharaman chaired the 43rd GST Council meet today through a video conference and representatives including seniors officials and finance ministers of states and union territories attended the meeting. 

This copy is being updated.

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